Savannah morning news. [volume] (Savannah) 1868-1887, 1887-01-21
1T NAY BE A BIG DEAL,
THE CENTRAL HOLDING THE
KEY TO THE SITUATION.

Rumors of Another Move About to be
Made In Which the Central is guter-
ested-Unusual Act witty in The stock
mArSet--sone of the Causes Assigned
for the Advance What the Brokers
Say.
The unusual activity in Central stock
during the past few days, following
closely upon the Richmond Terminals
scoop of the East Tennessee, Virginia
snd Georgia railroad, has given rise to all
sorts ofrumoTs. Over 1000 shares ofCen-
tral have changed hands in Savannah
this week. The market opened on Mon
day at l26, and closed yesterday at l2S11
The buying, so far as can be learned, 10
almost entirely local, and is believed 10
be speculative.
A DEAL on FOOT
1t is pretty evident, however, that there
is somethinI behind the movement, and
that deal OF some kind is on foot. \
prominent broker, and one who is in a
position TO know what is going on, SAID
yesterday that big move is about to be
made, and that the Central holds the key
10 the situation. WHAT the move is and
how the Central Is connected with IT, the
gentle man HdIu ne - DUt at IlDGl " W
make public. President Alexander and
MIR. +. NJ. Cunningham are In New ! ork
in conference VITA the New York direct
ors. Whether their visit has any connec-
ton with the rumored movement is not
known,
The TERMINAL PEOPLE.
The theory has been advanced that the
Richmond Terminal people are buying up
Central, and that as soon rs they get a
majority Of the stock the entire system
will be absorbed by the Terminal Com
pany. The Wall street Daily News, re-
1erriDg to the recent deal by which the
Terminal Company scOoped the East Ten
Aesspe road, saws: "Tne East Tennessee
Will be extended northward and absorb
the Norfolk and Western, the latter, when
certain extensions have been completed,
will absorb the West Point Terminal.
This, IN turn, will absorb the Geor-
Eia Central, and then new company
will be formed on a grand scale, WEIGH
will absorb all the companies. Stock OF
the Eurl1lk and Western will be eX-
CHANGED for the East Tennessee in the
proportion OF two for one, and the latter
will be exchanged for Georgia Central In
the proportion OF three for two; but
holders OF the latter stock viii have the
privilege OF subscribing pro rata on their
holdings Tor the Terminal stock in The
right to exchange it aiterward into stock
OF the new company in PROPORTIONS yet
TO be agreed upon. Negotiations to this
end are already in progress"
WHAT BROKERS SAY.
Leading brokers say that the buying, so
far "a then know, IS speculative. The
syndicate which bought heavily before
the recent election IN which Gen. Alex
ander succeeded Capt. Raoul in the presl-
Gency OF the road, Is said 10 have con-
1rolled ut the time OF the election % 600
shares. IT has been stated tuaJ the
Terminal Company Is largely represented
in this syndicate. In anticipation OF the
Terminal people making a sweep Of
the remaining $500 shares, giving
them majority Of the stock
and the control OF the road, local specu-
latofs are buying up Whatever there is
on the market. This ID one OF the theories
given fer the advance. Another is tnat
the Terminal people are manipulating the
market.
THE BUYING NOT LOCAL.
The buying is not altogether in Savan-
nah, but is equally persistent at other
Joints IN the state. Between 800 and
1900 shares have changed hands in Ma
I con this week. At Augusta the market
Is active.
Whatever move is on foot, those who
claim to he posted say that il accom-
plished it will be big thing for Savan-
nah. The Terminals scoop of the East
Tennessee is generally REGARDED as move
in Savannah's interest, and it is pretty
well understood that the outlet for the
system viii be here. 1t is pretty certain,
from what can be learned, that there Is
something on foot ard that it will be de-
Veloped at ne distant day.